SIRIUS XM Announces Results of Annual Meeting of Stockholders
NEW YORK, May 27 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq: SIRI) today announced the results of the voting from its 2009 Annual Meeting of Stockholders held today in New York.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO )
At the Annual Meeting, stockholders of SIRIUS XM:
-- elected twelve directors (Joan L. Amble, Leon D. Black, Lawrence F.
Gilberti, Eddy W. Hartenstein, James P. Holden, Chester A. Huber, Jr.,
Mel Karmazin, John W. Mendel, James F. Mooney, Gary M. Parsons, Jack
Shaw and Jeffrey D. Zients). An affiliate of Liberty Media Corporation,
the holder of the Company's Convertible Perpetual Preferred Stock,
Series B-1, previously appointed David J.A. Flowers, Gregory B, Maffei
and John C. Malone as members of the Company's board of directors;
-- approved an amendment to the Company's certificate of incorporation
to increase the number of authorized shares of common stock from
8,000,000,000 to 9,000,000,000 shares;
-- approved an amendment to the Company's certificate of incorporation
that would permit the Board of Directors to effect a reverse stock split
of the Company's common stock and reduce the number of authorized
shares of its common stock;
-- approved the Sirius XM Radio Inc. 2009 Long-Term Stock Incentive Plan;
-- ratified the appointment of KPMG LLP as the Company's independent
registered public accountants; and
-- voted down a stockholder proposal to give stockholders an advisory vote
on executives' pay packages at SIRIUS XM.
Additional information regarding the proposals that were voted on today by SIRIUS XM stockholders is contained in the Proxy Statement dated April 30, 2009 for the Annual Meeting of Stockholders of SIRIUS XM. A copy of that Proxy Statement is available in the investor relations section of the Company's website, www.siriusxm.com.
The final results of the voting are expected to be filed with the Securities and Exchange Commission as part of the Company's Quarterly Report on Form 10-Q for the quarter ending June 30, 2009.
About SIRIUS XM Radio
SIRIUS XM Radio is America's satellite radio company delivering to subscribers commercial-free music channels, premier sports, news, talk, entertainment, and traffic and weather.
SIRIUS XM Radio has content relationships with an array of personalities and artists, including Howard Stern, Martha Stewart, Oprah Winfrey, Jimmy Buffett, Jamie Foxx, Barbara Walters, Opie & Anthony, Bubba the Love Sponge(R), The Grateful Dead, Willie Nelson, Bob Dylan, Tom Petty, and Bob Edwards. SIRIUS XM Radio is the leader in sports programming as the Official Satellite Radio Partner of the NFL, Major League Baseball(R), NASCAR(R), NBA, NHL(R), and PGA TOUR(R), and broadcasts major college sports.
SIRIUS XM Radio has arrangements with every major automaker. SIRIUS XM Radio products are available at shop.sirius.com and shop.xmradio.com, and at retail locations nationwide, including Best Buy, RadioShack, Target, Sam's Club, and Wal-Mart.
SIRIUS XM Radio also offers SIRIUS Backseat TV, the first ever live in-vehicle rear seat entertainment featuring Nickelodeon, Disney Channel and Cartoon Network; XM NavTraffic(R) service for GPS navigation systems delivers real-time traffic information, including accidents and road construction, for more than 80 North American markets.
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving SIRIUS and XM, including potential synergies and cost savings and the timing thereof, future financial and operating results, the combined company's plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," " are expected to," "anticipate," "believe," "plan," "estimate," "intend," "will," "should," "may," or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of SIRIUS' and XM's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond the control of SIRIUS and XM. Actual results may differ materially from the results anticipated in these forward-looking statements.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statement: our substantial indebtedness; the businesses of SIRIUS and XM may not be combined successfully, or such combination may take longer, be more difficult, time-consuming or costly to accomplish than expected; the useful life of our satellites; our dependence upon automakers and other third parties; our competitive position versus other forms of audio and video entertainment; and general economic conditions. Additional factors that could cause SIRIUS' and XM's results to differ materially from those described in the forward-looking statements can be found in SIRIUS' Annual Report on Form 10-K for the year ended December 31, 2008 and XM's Annual Report on Form 10-K for the year ended December 31, 2008, which are filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and SIRIUS and XM disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.
G-SIRI
Contacts for SIRIUS XM Radio:
Paul Blalock
SIRIUS XM Radio
212 584 5174
paul.blalock@siriusxm.com
Patrick Reilly
SIRIUS XM Radio
212 901 6646
patrick.reilly@siriusxm.com
Hooper Stevens
SIRIUS XM Radio
212 901 6718
hooper.stevens@siriusxm.com
SOURCE SIRIUS XM Radio
Released May 27, 2009